If $450 is invested for one year at 12.1%simple interest, how much interest is earned?

Question

asked Apr 10, 2019 50.3k views

1 Answer

Rutha · Answer 1 · 2019-04-14T12:57:34+0000

i = p * r * t
p = 450
i = interest ??? That's what you are trying to find.
r = 12.1/100 = 0.121
t = 1 year

i = 450 * 0.121 * 1
i = 54.45 dollars.